AirSculpt Technologies, Inc.

Good morning and welcome to AirSculpt Technologies' third quarter 2021 earnings conference call. Today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. At this time, I'd like to turn the conference over to Dennis Dean, Chief Financial Officer at AirSculpt Technologies. Thank you. You may begin.

Good morning, everyone, and thanks for joining us to discuss AirSculpt Technologies' third quarter 2021 results. Joining me on the call today is our founder and chief executive officer, Dr. Aaron Rollins, and Ron Velhoff, our chief operating officer. Before we begin, I would like to remind you that this conference call may include forward-looking statements. These statements may include our future expectations regarding financial results and guidance, market opportunities, and our growth. Risk and uncertainties that may impact these statements and could cause actual future results to differ materially from currently projected results are described in this morning's press release and the reports we file with the SEC, all of which can be found on our website at investors.elitebodysculpture.com. We undertake no obligation to revise or update any forward-looking statements or information except as required by law. During our call today, we will also reference certain non-GAAP financial information, such as adjusted EBITDA and adjusted EBITDA margins. We use non-GAAP measures in some of our financial discussion as we believe they more accurately represent the true operational performance and underlying results of our business. A reconciliation of these measures can be found in our earnings release as filed this morning and in our most recently quarterly report when filed, which will also be available on our website. With that, I'll turn the call over to Dr. Aaron Rollins. Aaron.

Thank you, Dennis. Good morning, and thank you all for joining on our first earnings call as a public company. Our IPO was a very exciting achievement for us, but it was just one step in a long journey. We had an exceptional quarter, but before we discuss our results, I want to share some remarks about the company for those who aren't as familiar with AirSculpt. We are an experienced, fast-growing national provider of body contouring procedures. We operate under the brand Elite Body Sculpture, and we deliver a premium consumer experience in a luxurious spa-like atmosphere for a custom body contouring using our proprietary AirSkull procedure. Our network of specialty centers focuses on the removal of unwanted fat and simultaneously achieves exceptional skin tightening for our patients. We offer fat transfer procedures, which allows patients to transfer their unwanted fat to other areas of their body. I developed AirSkull over 10 years ago because I saw it. great need to deliver the highest quality results in body contouring and to provide patients a luxurious first-class experience. Unlike traditional liposuction, which uses a scraping or a shearing technique, AirSculpt uses a cannula that moves 1,000 times per minute in a back-and-forth corkscrew motion to remove live fat cells one by one, all while simultaneously tightening skin. We do this through a freckle-sized hole instead of using a scalpel incision. Moreover, we perform this procedure while our patients are fully awake and in a minimally invasive fashion. We use no needle, no scalpel, and no stitches, and it's all done awake. There's no general anesthesia. Our average patient can resume normal activities the very next day, and patients see results immediately. AirSculpt is covered under two utility patents, which we directly own. They relate to proprietary processes of performing fat removal, and the combination of multiple components to perform proprietary systems that are specifically configured for carrying out air sculpt procedures. We believe the systems and methodologies claimed in our patents provide impressive results with less patient trauma relative to other systems and methods of fat removal. We further rely on copyright, trademark, and trade secret laws to protect our brands, proprietary technologies, know-how, data, and copyrighted content, which includes our library of before and after photographs. We have a gallery of well over 200,000 before and after pictures of satisfied patients, which we believe to be the largest in the world. No matter what type of problem someone may have, our gallery allows them to see patients we have helped with similar body concerns as theirs. While Airscope speaks to our innovation in body contouring, it doesn't stop there. In 2020, we began broadcasting AirScope TV, which takes you live inside an AirScope procedure to see patients having procedures performed. Additionally, we allow the online audience to ask questions of the patients while they are undergoing their procedure. We believe this to be a first of its kind, and it again speaks to our innovation in every aspect of the business. We have now grown our footprint to 18 centers in 14 states, as we recently announced our newest centers in Miami Beach, Florida, and Salt Lake City, Utah. This expansion demonstrates our ability to execute on our de novo strategy of opening three to four centers each year and speaks to the demand in the U.S. for our dramatic body contouring services only available with AirScope. We also believe there is a great opportunity in the future to expand our network of centers internationally. We would like to emphasize that we feel that AirScope provides the absolute best results in body contouring. Not only are they incredibly dramatic compared to competitors, but the experience is far less invasive and the skin tightening is incredible. All of these factors lead us to believe that we provide the best body contouring that currently exists, period. Our industry-leading results should not be overlooked. We strongly encourage you to compare our results to any other technology or methodologies. Moreover, we sell these results to our patients, not to physicians or to hospitals. We sell our services to patients that want the absolute best in-body contouring and at what we believe is a very fair price. Finally, before we begin to discuss our results for the quarter, I wanted to provide a quick update regarding COVID. By now, I'm sure everyone is aware of the new Omicron variant. To date, we have not experienced any negative impacts in our centers. While we cannot speculate on how this new variant might impact our country or how certain government bodies might respond. What we can say is we continue to monitor the situation and we'll follow appropriate measures to address it, just as we have to previous variant outbreaks, such as the Delta variant. Now, I want to turn the call over to Ron Delhoff, our Chief Operating Officer. Ron?